CLARIFICATION ON VALIDITY OF OMNIBUS APPROVAL GRANTED BY THE SHAREHOLDERS IN RELATION TO RELATED PARTY TRANSACTIONS

The Securities and Exchange Board of India (“hereinafter referred to as SEBI”), on April 8, 2022 has issued Clarification (ref no SEBI/HO/CFD/CMD1/CIR/P/2022/47 on applicability of Regulation 23(4) read with Regulation 23(3)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015(“hereinafter referred to as SEBI LODR”) in relation to Related Party Transactions (“hereinafter referred to […]

LIMITED LIABILITY PARTNERSHIP (SECOND AMENDMENT) RULES, 2022

The Ministry of Corporate Affairs (MCA) vide Notification dated March 4, 2022, has issued ‘Limited Liability Partnership (Second Amendment) Rules, 2022, to further amend the existing Limited Liability Partnership Rules, 2009, which shall come into force on the date of its publication in the Official Gazette. Following are the major amendments: Rule 11(1) – Application FiLLip for […]

EMPLOYEE STOCK OPTIONS PLAN OR EMPLOYEE STOCK OWNERSHIP PLAN (ESOP)

Meaning: Employee Stock option plan or Employee Stock Ownership Plan (ESOP) is an employee benefit scheme that enables employees to own shares in the company. ESOP motivates the employee to be committed towards the company for a long term and also take ownership of the company making the employee more committed towards the Company. Employee […]

SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (SIXTH AMENDMENT) REGULATIONS, 2021

The SEBI notified SEBI (Listing Obligations And Disclosure Requirements) (Sixth Amendment) Regulations, 2021 (hereinafter referred to as “Amended Regulations”) vide  Notification No. SEBI/L AD-N RO/GN/2021/55 Dated: November 9, 2021 to amend the existing Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. These regulations shall come into force w.e.f. 01st April, 2022 unless otherwise specified in the respective […]

EXTENSION OF DUE DATE TO COMPLY WITH THE REQUIREMENTS UNDER THE COMPANIES ACT

The Ministry of Corporate Affairs (MCA) vide Notification dated March 31, 2022, has issued ‘Companies (Accounts) Second Amendment Rules, 2022 (hereinafter referred to as “Second Amendment Rules”), which amends the Companies (Accounts) Rules, 2014 as below: Rule 3 – Manner of Books of Account to be Kept in Electronic Mode As per the Companies (Accounts) Amendment Rules, […]

Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2022

In exercise of the powers conferred by section 196(1)(t) read with section 240 of the Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy Board of India (IBBI) amended the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 and has notified Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, […]

NEW V3 PORTAL FOR LLP (Limited Liability Partnership) by MCA

INTRODUCTION MCA has launched its new application (v3) for e-filing by LLPs on MCA V 3 portal to improve the delivery of LLP services. It may be noted that all the LLP e-filing services are being upgraded and migrated to MCA V3 portal. However, all the other services will continue to exist at MCA V3 (existing) […]

SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (AMENDMENT) REGULATIONS, 2022

The SEBI notified SEBI (Listing Obligations And Disclosure Requirements) (Amendment) Regulations, 2022 (hereinafter referred to as “Amended Regulations”) vide  Notification No. SEBI/LAD-NRO/GN/2022/66 Dated: January 24, 2022 to amend the existing Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. These regulations shall come into force w.e.f. January 24, 2022 The Amended Regulations and its comparison and […]

INTRODUCTION OF FORM CSR- 2 – Annual reporting

THE COMPANIES (ACCOUNTS) AMENDMENT RULES, 2022 – INTRODUCTION OF FORM CSR- 2 The Ministry of Corporate Affairs (MCA) vide Notification dated February 11, 2022, has issued ‘Companies (Accounts) Amendment Rules, 2022 the Companies (Accounts) Rules, 2014. The Amendment Rules: Inserts new-sub rule 1A in Rule 12 in Companies (Accounts) Rules, 2014 Adds a new form – form […]